US banks build from experience

Your article “US banks step up assault on the UK” contains one misperception, which UK banks will share at their peril. You argue that US banks “driven purely by price and marketed through mail” are commodities “rather than brands”.

Not so. US business has learned how to create value from customer data and relationships, and build brands from tailored customer experiences. The world has changed, and established brands should look out. As Arnold Bennett put it: “The people of the past must yield to the people of the future.”

Stewart Pearson

President and chief operating officer

Foote Cone & Belding Direct Worldwide

New York

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